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May 2020 – New update on electronic forms regarding Coronavirus allowance
The Ministry of Labor, Welfare, and Social Security has published on its website the online applications that need to be completed by those who have been affected by the anti-coronavirus measures. These applications will be for benefits ranging from April 13, 2020, to May 12, 2020. These applications must be re-completed by all interested parties.
The deadline for applications for inclusion in the Special Plans of the Ministry of Labor expires on Wednesday, May 20, 2020.
Some changes have been made to the applications, which include:
Interested parties can find the following forms on https://www.coronavirus.mlsi.gov.cy/ for the second period:
Please note that those who have submitted the online form for their Bank Account information do not need to submit it again.
Applicants who have not completed the online Form for their Bank Account information are required to complete it.
Only self-employed natural persons who do not receive a statutory pension and do not practice any of the following professions can participate in the Special Plan for the self-employed:
A significant change in the partial suspension plan. For Companies that employ up to 9 people, the Special Unemployment benefit may be paid to all employers regardless of their status, provided that certain terms and conditions are met.
The special childcare allowance will only be provided to working parents employed in the private sector, but without any income criteria.
The deadline for the payment of Contributions of self-employed Employees to the Social Security Fund was extended until 10/7/2020. The deadline for payment for the first quarter of 2020 was previously May 10, 2020.
Other important reminders
It was decided to postpone for three months the VAT payment for the tax periods ending February, March and April 2020. No additional tax and interest will be charged on the economic activities affected by the measures, provided that the companies submit their tax returns within the deadline. The amounts due can be payable in installments by 10 November 2020.
The above temporary postponement does not apply to companies with economic activity codes belonging to the categories of business that are required to remain in operation such as electricity producers, collection and distribution of water, supermarkets/bakeries/confectionaries/kiosks/fruit markets, meat and fish sellers, petrol stations, shops selling computers, software and peripherals, book stores, toy stores, pharmacies, telecommunications, internet, and satellite communication services.
The Tax Department has announced that in view of the measures taken to address the coronavirus, the filing date of the Income Tax return (IR 4), and Self-Employed Accounts (IR 1) for the Tax Year 2018, is extended from 31 March 2020 to 1st of June of 2020.
If you would like us to complete and submit the above applications on your behalf or on behalf of your company, please contact us.